Management Study On The Capital-chain Of Commercial Real Estate

Real estate industry is a typical capital-intensive industry , pecifically in commercial real estate area.Cpital is the blood of project,hich largely affects the success of the project.In recent years,ecause of the real estate bubble,he g-overnment has been promulgated many control policies to control the market.But the high-intensity policies mainly aim to the residential area.At the same time,commercial real estate have strong earnings,which can promote the consumption and investment levels,and promote the development of the city to some extent.In this context,commercial real estate get the potential to develop.Therefore,a lot of companies begin to develop the commercial real estate area.On the other hand,it needs much money and is risky to develop the commercial real estate.Also the capital problems and the risks will go throughout the whole process of project. Currently the currency funds is tight and financing is single and so on in China,what make it difficult to develop the commercial real estate project.The problem of project's capital is the most prominent.Thus,the study focuses on the capital chain and the managemnet in commercial real estate projects.This paper studies the narrow commercial real estate,mainly the shopping mall.It doesn't consider the hotel and the independent shops and so on.This paper elaborate the basic concepts at the beginning.And it describe the structure of investment and financing in commercial real estate,which is in order to know the capital chain and the management of commercial real estate projct.We study the commercial real estate's development status and investment and financing status,and learn the successful and failure commercial real estate projects.And we can konw the problems in the management of the capital chain in commercial real estate. Finally,in order to solve these problems,we propose some countermeasures which include both macro and micro.From the macro,we begin with a policy perspective. From the micro,proposing the management basing on the capital chain model,exploring the financing channels actively and developing project funding programs and so on. Thus to strengthen the commercial real estate project capital chain management.